United Parcel Service’s fourth-quarter earnings matched expectations.
The package delivery company reported adjusted earnings of $2.11 a share, in line with consensus estimate of analysts polled by FactSet. The figure is also higher from the year-ago quarter’s $1.94 a share.
Revenue rose year-over-year to $20.6 billion, just shy of analysts’ forecasts of $20.7 billion.
UPS indicated that its U.S. domestic business experienced +6.6% revenue growth, led by its largest customer Amazon. International revenue slipped -1.7% to $3.76 billion, slightly below analyst’ of expectations of $3.80 billion
Looking ahead, UPS expects 2020 full-year earnings per share in the range of between $7.76 and $8.06, compared to FactSet estimate of $8.03. Its projection includes expected weakness on the industrial side of the U.S. and global economies as well as spending that will significantly increase UPS competitiveness and will be EPS accretive in 2021 (according to the company).